Glynn Capital Management Lowers stake in NetSuite Inc (N)

NetSuite Inc (N) : Glynn Capital Management reduced its stake in NetSuite Inc by 0.73% during the most recent quarter end. The investment management company now holds a total of 190,192 shares of NetSuite Inc which is valued at $14.6 Million after selling 1,405 shares in NetSuite Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.NetSuite Inc makes up approximately 4.64% of Glynn Capital Management’s portfolio.

Other Hedge Funds, Including , Renaissance Technologies sold out all of its stake in N during the most recent quarter. The investment firm sold 25,900 shares of N which is valued $2 Million.Ls Investment Advisors boosted its stake in N in the latest quarter, The investment management firm added 318 additional shares and now holds a total of 2,063 shares of NetSuite Inc which is valued at $158,459. NetSuite Inc makes up approx 0.01% of Ls Investment Advisors’s portfolio.Teachers Advisors Inc boosted its stake in N in the latest quarter, The investment management firm added 133 additional shares and now holds a total of 32,560 shares of NetSuite Inc which is valued at $2.5 Million.Pitcairn Co boosted its stake in N in the latest quarter, The investment management firm added 6,128 additional shares and now holds a total of 20,974 shares of NetSuite Inc which is valued at $1.7 Million. NetSuite Inc makes up approx 0.22% of Pitcairn Co’s portfolio.

NetSuite Inc opened for trading at $79.44 and hit $79.6 on the upside on Wednesday, eventually ending the session at $79.55, with a gain of 0.56% or 0.44 points. The heightened volatility saw the trading volume jump to 3,79,302 shares. Company has a market cap of $6,399 M.

On the company’s financial health, NetSuite Inc reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.03. The company had revenue of $216.60 million for the quarter, compared to analysts expectations of $213.37 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.

Many Wall Street Analysts have commented on NetSuite Inc. Goldman Initiated NetSuite Inc on May 23, 2016 to “Sell”, Price Target of the shares are set at $68.Company shares were Reiterated by SunTrust on May 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .Company shares were Reiterated by Sun Trust Rbsn Humphrey on May 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .

NetSuite Inc. (NetSuite) is a provider of cloud-based financials enterprise resource planning (ERP) and omnichannel commerce software suites. The Company’s offerings include NetSuite NetSuite OneWorld NetSuite CRM+ NetSuite OpenAir PSA SuiteCommerce NetSuite POS TribeHR LightCMS Add-On Modules NetSuite Industry Editions and SuiteCloud Platform. Its main offering is NetSuite which provides core business management capabilities. NetSuite OneWorld and NetSuite CRM+ are designed for use by most types of businesses. NetSuite OpenAir (OpenAir) PSA is for professional services businesses. SuiteCommerce enables businesses to move from standalone transactional channels to an integrated commerce solution. NetSuite POS is a point-of-sale solution. TribeHR is a HCM solution. LightCMS is a Web-based software platform. SuiteCloud is the Company’s technology platform. It delivers its applications over the Internet as a subscription service using the software-as-a-service (SaaS) model.

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